Crane NXT, Co. Declares Quarterly Dividend of $0.17 (NYSE:CXT)

Key Points

• Crane NXT, Co. has declared a quarterly dividend of $0.17 per share, with the payment scheduled for September 10th to stockholders of record on August 29th, reflecting a dividend yield of 1.2%.
• The company reported earnings per share of $0.97 for the last quarter, exceeding analysts' expectations of $0.92, with revenue totaling $404.40 million.
• Crane NXT’s dividend is well-supported by earnings, with a payout ratio of 14.1% and expected future earnings allowing for continued dividend payments.

Crane NXT, Co. (NYSE:CXT - Get Free Report) announced a quarterly dividend on Thursday, August 7th, Wall Street Journal reports. Stockholders of record on Friday, August 29th will be given a dividend of 0.17 per share on Wednesday, September 10th. This represents a c) annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, August 29th.

Crane NXT has a payout ratio of 14.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Crane NXT to earn $4.57 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 14.9%.

Crane NXT Trading Down 1.8%

Shares of CXT traded down $1.09 during trading hours on Monday, hitting $59.51. 446,931 shares of the stock traded hands, compared to its average volume of 363,138. The business has a fifty day moving average of $56.60 and a 200-day moving average of $54.35. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.73. Crane NXT has a 1-year low of $41.54 and a 1-year high of $67.00. The firm has a market capitalization of $3.42 billion, a PE ratio of 22.71 and a beta of 1.33.

Crane NXT (NYSE:CXT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.05. The business had revenue of $404.40 million for the quarter, compared to analyst estimates of $382.79 million. Crane NXT had a return on equity of 20.22% and a net margin of 9.84%. Analysts expect that Crane NXT will post 4.16 EPS for the current year.

Institutional Trading of Crane NXT

A number of large investors have recently bought and sold shares of CXT. ARS Investment Partners LLC bought a new stake in shares of Crane NXT during the second quarter worth $218,000. Portside Wealth Group LLC boosted its stake in Crane NXT by 67.6% in the 2nd quarter. Portside Wealth Group LLC now owns 6,543 shares of the company's stock worth $353,000 after purchasing an additional 2,639 shares during the period. Creative Planning increased its holdings in Crane NXT by 19.7% during the 2nd quarter. Creative Planning now owns 13,088 shares of the company's stock worth $705,000 after purchasing an additional 2,154 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Crane NXT by 431.2% during the second quarter. SG Americas Securities LLC now owns 20,405 shares of the company's stock worth $1,100,000 after buying an additional 16,564 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Crane NXT by 7.8% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,676 shares of the company's stock worth $683,000 after buying an additional 922 shares in the last quarter. 77.49% of the stock is owned by institutional investors.

About Crane NXT

Crane NXT, Co operates as an industrial technology company that provides technology solutions to secure, detect, and authenticate customers' important assets. The company operates through Crane Payment Innovations and Crane Currency segments. The Crane Payment Innovations segment offers electronic equipment and associated software, as well as advanced automation solutions, processing systems, field service solutions, remote diagnostics, and productivity software solutions.